About The Trendlines Group Highlights from 2017 and a focus on 2018 Annual General Meeting April 2018 SGX:42T OTCQX: TRNLY
Legal disclaimer Important notice This presentation is for informational purposes only and does not constitute or form any part of any offer for sale or subscription of, or solicitation of, any offer to buy or subscribe for any securities of The Trendlines Group Ltd. (“Company”) or any of its portfolio companies nor shall it or any part of it form the basis of, or be relied on in connection with, any contract, commitment or any investment decision whatsoever in Singapore, Israel, the United States or in any other jurisdiction. The summary information herein does not purport to be complete. The information in this presentation should not be relied upon as any representation or warranty, express or implied, of the Company. No reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. The information is subject to change without notice. The past performance of the Company is not necessarily indicative of its future performance. This presentation may contain statements that constitute forward-looking statements which involve risks and uncertainties. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the results of business operations and financial condition, industry, environment and future events and plans of the Company. Such forward-looking statements are not guarantees of future results, performance or achievements. Actual results, performance or achievements of the Company may differ from those expressed in the forward-looking statements as a result of various factors and assumptions, such as known and unknown risks and uncertainties, including those risk factors discussed in our Offer Document dated 16 November 2015 and in our other filings with the SGXNET. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. In light of these risks and uncertainties, actual events, results and developments could differ materially from those expressed or implied by the forward-looking statements. Reliance should not be placed on these forward-looking statements, which reflect the view of the Company or its officers as of the date of this presentation only. The Company does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. None of the Company or any of its respective affiliates, advisers or representatives shall have any liability whatsoever for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation. Neither this presentation nor any of its contents may be used without the prior written consent of the Company. 2
About Trendlines
Trendlines: building companies, commercializing innovation Trendlines establishes, develops, invests in, and supports technology-based medical and agricultural companies to improve the human condition. 4
Trendlines: building companies, commercializing innovation Life science incubators 5
Trendlines: building companies, commercializing innovation In-house innovation center of � The Trendlines Group Inventing and developing technologies to address unmet market needs 6
Management: Decades of company-building experience Nitza Kardish, Ph.D. Todd Dollinger VP The Trendlines Group Yosi Hazan Chairman & CEO CEO Trendlines Incubators Israel VP The Trendlines Group CEO Trendlines Labs Eric Loh CEO Trendlines Medical Singapore Steve Rhodes Chairman & CEO Gabi Heller Moshe Katzenelson CFO & Joint Co. Sec’y. VP Business Dev. 03-Dec-17 7
Key developments of 2017
Key corporate developments FY 2017 • Trendlines Medical Singapore Pte. Ltd. launched and invested in first company • Trendlines raised US$10.3 million of gross proceeds in new shares placement • Trendlines Labs’ agreement with Singapore General Hospital and grant from the Singapore Israel Industrial Research and Development Foundation for clinical trials • Launched “10 Companies to Watch” report 9
Key portfolio company developments FY 2017 • Nine new companies established (8 in Israel, 1 in Singapore) • New company established under Bayer Trendlines Ag Innovation Fund (IBI-Ag Ltd.) • 15 portfolio companies raised over US$20 million in follow-on investments – 4 from strategic partners • Three exit-related events announced: Sale of shares in BioSight Ltd. • Sale of holdings in MitrAssist Ltd. • Investment in Vensica Medical Ltd. by Cogentix Medical, Inc. with an • acquisition option to acquire the entire share capital of Vensica 10
Q1 developments • Disclosure of Stimatix GI Ltd. as Most Valuable Portfolio Company (“MVP”) and acquirer as B. Braun Medical SAS • Trendlines Medical Singapore Pte. Ltd. and K2 Global Pte. Ltd. to participate in a government-backed SGD100 million start-up program by SPRING SEEDS Capital Pte. Ltd. • Trendlines and Nutreco Investments B.V. sign collaboration MOU • ElastiMed Ltd. receives approval of US$1.6 million grant from Horizon 2020 program 11
Key financial developments
10 years of portfolio value expansion US$ millions Portfolio value with exit proceeds 140 120 Portfolio value* 100 Cumulative exit proceeds 80 60 40 20 0 30.12.08 30.12.09 30.12.10 30.12.11 31.12.12 31.12.13 31.12.14 31.12.15 31.12.16 31.12.17 *Portfolio value includes the fair value of investments in portfolio companies accounted for under the equity method or consolidated subsidiaries 13
Key financial developments FY2017 31 December 31 December Change % Change 2017 2016 Portfolio value US$96.8 million US$83.7 million + US$13.1 million + 16% US$3.9 million Net gain/loss (US$6.6 million) + US$10.5 million N/A Book value US$92.2 million US$78.2 million + US$14.0 million + 18% Current assets US$20.4 million US$17.3 million + US$3.1 million + 18% 14
Consolidated condensed report of income 15
Key value components Balance sheet Change in portfolio value during year (3.8) 20.4 (US$ millions) (5.3) (7.8) (13.8) 16.4 (1.4) 4.5 96.8 83.7 92.9 Net portfolio Investments and Fair value Fair value Net portfolio Cash, short-term Fair value of Deferred Deferred tax** Payables & Total equity value 31.12.16 new companies increase decrease & value 31.12.17 investments & non-recourse revenue other 31.12.17 write-offs receivables government (services loans* liability) * Israeli government loans are non-recourse loans which only come due upon exit events. ** Deferred taxes from unrealized portfolio company valuation profits are offset and paid only upon realization of cash from exits. 16
10 Companies to Watch
10 companies (+1) to watch* • ApiFix Ltd. • Leviticus Cardio Ltd. • BioFishency Ltd. • MemTech Ltd. • EdenShield Ltd. • Saturas Ltd. • Fidmi Medical Ltd. • STS Medical Ltd. • Gordian Surgical Ltd. • Vensica Medical Ltd. +1 Stimatix GI Ltd. *Updated report issued: 23 April 2018 18
Low-profile solutions for colostomy management Development of low-profile innovative solutions for colostomy management, created to improve the quality of life for people with stomas. Achievements • Multiple successful clinical studies completed • Received CE and FDA approval within 3 years Status • Acquired by B. Braun in 2014 for cash, milestone payments, and future royalties • B. Braun has established high-volume manufacturing facility • Commercial launch of product mid-2018 19
Water treatment system for aquaculture Cost-effective, all-in-one water treatment system for reduced water use and improved yields in all types of land- based aquaculture systems Recent developments • 2017 sales of US$550,000; 2018 Q1 sales of US$800,000 • Signed term sheet with the Technion Research & Development Foundation Ltd. to license new technology for growing fish in different water temperatures and water types Status • Units operating in over 8 countries • Distribution agreements for Bangladesh, India, Taiwan and China; cooperation with several strategic partners • IP: patent in national phase The BioFishency all-in-one aquaculture water treatment system 20
A breakthrough in heart pump technology Wireless system provides constant power needs of heart pump (LVAD) implants to eliminate complications related to drive line cables Recent developments • Animal trial with successful 60+ day follow-up • Raised US$8.7 million to date Status • Fully operational system • 12 issued patents and two pending (U.S.) • Successful chronic animal trials and integration with LVADs • High visibility among LVAD players • ISO 13485 Leviticus provides the day-to-day power needs of LVADs 21
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